Result of Placing

Aviva PLC
13 July 2006




News release


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
                 THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN


  THIS IS NOT AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES, CANADA,
                               AUSTRALIA OR JAPAN



13 JULY 2006

                       RESULT OF PLACING (THE 'PLACING')


Aviva plc ('Aviva' or the 'Company') is pleased to announce the successful
completion of the Placing announced earlier today.


A total of 129 million new ordinary shares of £0.25 each (the 'New Ordinary
Shares') have been placed by JPMorgan Cazenove ('JPMC'), Hoare Govett Limited
('Hoare Govett') and Morgan Stanley & Co. International ('Morgan Stanley') with
institutional and other investors at a price of 700 pence per New Ordinary
Share. Based on the Placing price, the gross proceeds are approximately £900
million. The New Ordinary Shares being issued represent approximately 5 per cent
of Aviva's issued ordinary share capital prior to the Placing.


Application has been made for, and the Placing is conditional on, inter alia,
admission of the New Ordinary Shares to the Official List maintained by the UK
Listing Authority and to admission to trading by the London Stock Exchange on
its market for listed securities (together, 'Admission'). It is expected that
Admission will become effective and that dealings will commence in the New
Ordinary Shares on 18 July 2006.



JPMC, Hoare Govett and Morgan Stanley are acting as joint bookrunners and
brokers in relation to the Placing.



Enquiries to:


Aviva plc
Philip Scott, Group Executive Director                      [phone]
Andrew Moss, Group Finance Director                         [phone]



Analysts and investors
Charles Barrows, Investor Relations Director                [phone]



Media
Hayley Stimpson, Director of External Affairs               [phone]
Rob Bailhache, Financial Dynamics                           [phone]



JPMorgan Cazenove                                           [phone]
Tim Wise
Conor Hillery
Jonathan Wilcox



Hoare Govett                                                [phone]
Peter Meinertzhagen
Bob Cowdell
Jeremy Thompson



Morgan Stanley                                              [phone]
Paul Baker
Henrik Gobel
Martyn Dodgson





J.P. Morgan Securities Ltd., which is regulated by the Financial Services
Authority, is acting for the Company in connection with the Placing and no one
else and will not be responsible to anyone other than the Company for providing
the protections afforded to the clients of J.P. Morgan Securities Ltd, nor for
providing advice in relation to the Placing.



JPMC, which is regulated by the Financial Services Authority, is acting for the
Company in connection with the Placing and no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to the clients of JPMC nor for providing advice in relation to the
Placing.



Hoare Govett, which is regulated by the Financial Services Authority, is acting
for the Company in connection with the Placing and no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to the clients of Hoare Govett nor for providing advice in relation to
the Placing.


Morgan Stanley, which is regulated by the Financial Services Authority, is
acting for the Company in connection with the Placing and no one else and will
not be responsible to anyone other than the Company for providing the
protections afforded to the clients of Morgan Stanley nor for providing advice
in relation to the Placing.



This announcement is for information only and, save as set out in the terms and
conditions attached, does not constitute an offer or invitation to acquire or
dispose of any securities or investment advice in any jurisdiction.



The information contained in this announcement is not for release, publication
or distribution, directly or indirectly, to persons in the United States its
territories or possessions, Canada, Australia or Japan. This announcement is not
an offer of securities for sale or issue or the solicitation of an offer to buy
or acquire any securities in the capital of the Company in the United States,
Canada, Australia or Japan or any jurisdiction in which such offer or
solicitation is unlawful and should not be relied upon in connection with any
decision to acquire the New Ordinary Shares or any other securities in the
capital of the Company. The New Ordinary Shares have not and will not be
registered under the US Securities Act of 1933 , as amended, or under the laws
of any state of the United States and may not be offered or sold directly or
indirectly, in the United States absent registration or an exemption from
registration. There will be no public offering of securities in the United
States, the United Kingdom or anywhere else. The New Ordinary Shares have not
and will not be registered with any regulatory authority of any State within the
United States.



This announcement is only addressed to and directed at persons in member states
of the European Economic Area ('EEA') who are 'qualified investors' within the
meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC)
('Qualified Investors'). Any person in the EEA who initially acquires any
securities in the Placing or to whom any offer of securities is made will be
deemed to have acknowledged and agreed that they are such a Qualified Investor.



In the case of any securities acquired by a financial intermediary as that term
is used in Article 3(2) of the Prospectus Directive, such financial intermediary
will also be deemed to have represented, acknowledged and agreed that the
securities acquired by it in the Placing have not been acquired on a
non-discretionary basis on behalf of, nor have they have been acquired with a
view to their offer or resale to, persons in circumstances which may give rise
to an offer of securities to the public other than their offer or resale in a
relevant member state to Qualified Investors or in circumstances in which the
prior consent of the Managers has been obtained to each such proposed offer or
resale.



The Company and the Managers and their respective affiliates, will rely upon the
truth and accuracy of the foregoing representations, acknowledgements and
agreements.



Past performance is no guide to future performance and persons needing advice
should consult an independent financial adviser.



                                    - ends -


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